September 29, 2008

THE BAILOUT IS JUST THE END OF THE BEGINNING

Now that we have a plan, things should get back to normal, though at a reduced level, with a true recession now certain.

So far, the people who caused this - Senator Dodd, Rep Barney Frank, and the rest of the Democrats who parlayed Clinton's 1995 expansion of the Community Reinvestment Act into a cash cow for their cronies and supporting activists - have not properly been called to account for the mayhem they have caused.

In fact, these wretched wannabe machers were key participants in the bailout negotiations, trying even now to add earmarks for corrupt groups like ACORN, and still trying to subsidize mortgages so that people who can't afford them can still get them. And then vote for the Democrat who got them their subsidy, of course.

Here's an excellent summary of the causes of our current crisis, the people who caused it, the attempts made by Bush, McCain and others to prevent it, and the ongoing risks. After you watch that video, you can appreciate my feeling that those who caused the problem have not yet been made to account for thie actions.

Bad as this was, the hurt hasn't hit yet, and when it does, no one will connect the hurt to the source. We need Obama to win, so he can lead us into further chaos, and then we can well and truly reform DC. This bailout reforms nothing, only slows down, delays or otherwise provides cover for subsequent programs just as bad as the ones that caused this mess.

Review your budgets, and start cutting back now - we did. You ain't seen nothin' yet. Julian Simon, pray for us.